www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Local govt solvency tested on debts due

By Wei Tian in Shanghai (China Daily) Updated: 2014-02-21 07:18

The solvency of China's local governments is being tested as they pull out all the stops to meet the payment deadline for their heavy borrowings over the last several years.

Because it has become a more challenging task for local officials facing slowing fiscal revenue growth, more market forces, such as equity transfer and assets securitization, could be introduced to help tackle the issue, analysts said.

Local govt solvency tested on debts due

Local govt solvency tested on debts due

A comprehensive survey of local governments by the National Audit Office revealed that direct and indirect debt of local governments amounted to 17.9 trillion yuan ($2.94 trillion) as of June 2013, up from 10.7 trillion yuan at the end of 2010. It was equal to 32 percent of the country's gross domestic product that year.

Of the trillions of yuan borrowings of which local governments are responsible for repayment, Jiangsu province in East China has the heaviest liabilities at 763.6 billion yuan, an audit of local government's checkbooks showed.

Nearly 22 percent of the government debt will mature in 2014, according to the audit office survey. Experts estimate the interest alone will total 1.6 trillion yuan.

Among first-tier cities, Beijing will have 194 billion yuan of debt due for repayment in 2014, while Shanghai will have to raise 220 billion yuan for debt repayment. Guangzhou faces 50 billion yuan.

However, fiscal income, which used to be the major source of government's debt payment, may not be able to cover what is owed as local governments lower revenue growth targets.

According to the Ministry of Finance, local government revenue grew 12.9 percent in 2013 to 6.9 trillion yuan. But most of the local governments have set this year's growth target in their draft budget plan at around 10 percent.

Land sales revenue, which is another major part of government revenue, may also be inadequate for debt repayments because the housing market is expected to cool down from a period of rapid expansion over the past few years.

Don't miss:

Local govt solvency tested on debts due

Local govt solvency tested on debts due

Top 10 trading partners of the Chinese mainland

China's top 10 richest cities

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 欧美日韩国产综合一区二区三区 | 亚洲欧美日韩专区 | 国产黄色在线播放 | 最新亚洲精品国自产在线观看 | 美女扒开腿被男人猛视频 | 理论片中文字幕 | 国产私拍福利精品视频推出 | 国产成人精选免费视频 | 亚洲成人h| 久 在线播放| 成人在线免费播放 | 最新亚洲精品国自产在线 | 久操精品视频 | 欧美性视频一区二区三区 | 国产成人丝袜网站在线看 | 免费一级毛片在线播放视频 | 成人毛片1024你懂的 | 亚洲手机看片 | 黄色在线视频网 | 国产亚洲国产bv网站在线 | 国产男女乱淫真视频全程播放 | 国产色爽女小说免费看 | 欧美一级手机免费观看片 | 黄色三级免费网站 | 中文字幕福利片 | 男人性天堂 | 久久九九色 | 久久国产精品免费网站 | 亚洲一区二区三区不卡视频 | 亚洲激情黄色 | 国产精品亚洲高清一区二区 | 精品久久久久久国产免费了 | 久久99免费视频 | 国产片网址 | 国产精品香蕉一区二区三区 | avtom影院入口永久在线 | 窝窝午夜精品一区二区 | av在线亚洲男人的天堂 | 麻豆第一页 | 欧美精品在线视频 | 国产高清毛片 |